Cim Investment Management Inc. Buys 6,184 Shares of Citigroup Inc. $C

Cim Investment Management Inc. grew its stake in shares of Citigroup Inc. (NYSE:C) by 99.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 12,378 shares of the company’s stock after acquiring an additional 6,184 shares during the quarter. Cim Investment Management Inc.’s holdings in Citigroup were worth $1,732,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cora Capital Advisors LLC raised its holdings in Citigroup by 3.1% during the 1st quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock worth $296,000 after buying an additional 78 shares during the period. CFS Investment Advisory Services LLC boosted its holdings in shares of Citigroup by 0.4% in the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock worth $2,336,000 after buying an additional 79 shares during the period. American Trust increased its position in shares of Citigroup by 3.6% in the second quarter. American Trust now owns 2,331 shares of the company’s stock worth $326,000 after acquiring an additional 80 shares in the last quarter. Invst LLC increased its position in shares of Citigroup by 0.8% in the second quarter. Invst LLC now owns 9,601 shares of the company’s stock worth $1,344,000 after acquiring an additional 80 shares in the last quarter. Finally, Tsfg LLC raised its holdings in shares of Citigroup by 4.9% during the second quarter. Tsfg LLC now owns 1,701 shares of the company’s stock valued at $238,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

Citigroup stock traded down $0.50 during trading hours on Tuesday, reaching $130.81. 7,604,908 shares of the company were exchanged, compared to its average volume of 12,602,708. Citigroup Inc. has a 12 month low of $93.66 and a 12 month high of $147.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The stock has a 50-day moving average of $134.33 and a 200 day moving average of $130.15. The firm has a market cap of $223.11 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 0.60 and a beta of 1.12.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The company had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. During the same quarter last year, the firm posted $1.96 earnings per share. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, research analysts anticipate that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were issued a $0.67 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 3rd. This represents a $2.68 annualized dividend and a yield of 2.0%. Citigroup’s payout ratio is 28.94%.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Expanded Coinbase stablecoin partnership: Citi is deepening its relationship with Coinbase to provide institutional clients with virtual accounts, stablecoin-to-fiat conversion, payment capabilities and regulated settlement infrastructure. The initiative could strengthen Citi’s position in digital payments and generate new transaction-banking revenue as institutional crypto adoption grows. Citigroup Deepens Stablecoin Push With Expanded Coinbase Tie-Up
• Positive Sentiment: Global instant-payments expansion: Citi became the first bank to launch multi-market instant payments through Swift, connecting clients to local payment rails in markets including Australia, the United Kingdom and India. The service expands WorldLink’s reach across 135 currencies and 54 markets while reducing the need for separate local banking relationships. Citi Becomes First Bank to Launch Multi-Market Instant Payments
• Positive Sentiment: Earnings expectations remain constructive: Analysts expect third-quarter earnings of approximately $2.64 per share and revenue of $23.75 billion, with the report scheduled for October 13. The outlook follows Citi’s latest quarterly earnings beat and supports the view that restructuring and operating improvements may be gaining traction. Citigroup Likely to Report Higher Q3 Earnings
• Positive Sentiment: Analyst support and potential investment-banking fees: HSBC raised its Citigroup price target to $164 and maintained a Buy rating. Citi is also reportedly preparing a consortium for a potential $3 billion Banamex IPO, which could create advisory and underwriting revenue. HSBC Adjusts Price Target on Citigroup
• Neutral Sentiment: Investor-services modernization: Citi launched an AI-enhanced Market Guide platform using data from its global custody network. The announcement reinforces Citi’s technology strategy, although the immediate financial impact is unclear. Citi Investor Services Reimagines Market Guide Platform
• Negative Sentiment: Positive announcements have not produced a clear near-term catalyst: Citi’s recent share-price weakness suggests investors may be waiting for concrete evidence of earnings growth and monetization from stablecoins, instant payments and other digital initiatives. Broader concerns about inflation and higher interest rates may also be limiting enthusiasm for bank stocks.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on C shares. Morgan Stanley upped their price target on shares of Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. HSBC boosted their price target on shares of Citigroup from $161.00 to $164.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company upped their price target on shares of Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, June 18th. UBS Group cut their price objective on Citigroup from $150.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Finally, Argus set a $150.00 price objective on Citigroup in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.50.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi’s principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.